Buying a livestock insurance policy is one risk management option. Producers should always carefully consider how a policy will work in conjunction with their other risk management strategies to insure the best possible outcome.
Livestock Gross Margin (LGM)
Provides protection against loss of gross margin (market value of livestock minus feed costs).
The Federal Crop Insurance Act limits the funds available to support livestock plans of insurance to $20 million in a fiscal year. RMA has allocated additional funding to the Livestock Gross Margin for Dairy Cattle (LGM-Dairy) plan of insurance for the December 26, 2014, sales period. However, depending on the participation in the December 26, 2014, sales period, capacity for LGM-Dairy may be exhausted for the remainder of the 2015 insurance year.
Livestock Risk Protection (LRP)
Provides protection against price declines.
Other Livestock Resources
For more information, contact Livestock.